PowerTrading/The River - page 47
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Filtering for ranging days
Well, I'm not really sure but from my observations, the way I see SMA 84 is as a ranging indicator. When SMA 84 is in the river, flirting in between the river, usually the market is ranging (big or small) here are some examples :
1. The first picture (9JUNE2006). Yes, there is a break out at 1430 with a long Bearish candle. But I wouldn't go into the trade as soon as it breaks(to avoid spikes). Hence, I might SHORT at 1445 opening. Putting in mind that it is a ranging day, i might put tighter SL, or maybe even exited at the touch of Fibo.
2. The second picture (9JAN2009). A big ranging day. With closer look, you might catch around 100+pips on this day although ranging.
Ranging day in my very humble opinion should be look as a 'holiday' for trader (: or at least, declare it a NO GREEDY DAY.
*this is from my own observations. Not sure right or wrong. Maybe you guys can share some opinions.
Posting
I would like to start posting in this thread again if there is any interest. Let me know what you think.
PT
hello pt
nice to see you back
elfural
Hey
hello pt
nice to see you back
elfuralThanks, I may start posting my new changes if there is enough interest.
Hey PT!
Great to see you back!
PT! welcome!!!
Oh, I'm sorry all I've been away for a while now as I'm busy with other stuff.
PT! Welcome back!!! There is one newbie here eager to learn from you. If any of my previous post is misleading, please let me know and I'll delete them ya!
The river never gets old.
LSs
Seems nice.
Can you provide backtesting\forwardtesting results? How many trades did you take?
Thanks
Michael
level backtesting
Dear PT,
I've been playing with the levels on 62MA. I tried placing levels on 21ma (as it is quite common) and the levels for that MA is 50,-50, 100,-100,138,-138,150 and -150.
138 and 150 are the levels I always look into as price tend to reverse there. It works in 1H but best with 15minute chart as price almost NEVER leaves the 150 lvl. Same like the original river, 138 and 150 is perfect for Take Profit.
Anyway, this is just my observations and I think we should wait for PT to post his revised rules (:
Cheers,
LSs
That would be lovely!
It would be great to see you back. I can't say enough about how positive the impact of just reading through your threads has been to my trading and subsequently my life!
Thank you again!